from the milken institute global conference. i am erik schatzker.nt trump has promised to overhaul financial regulation, health care, and the tax code as part of his vision for america's future. john micklethwait spoke with treasury secretary steven mnuchin about the administration's plans to spur growth and enact reform. mr. mnuchin: i think there are a lot of things we need to do to create economic growth. the tax plan is one of them. we think reform of the tax plan, middle income tax cut, making businesses more competitive. we also need regulatory relief. too many businesses are held back from making investments because of excess regulation. we also need fair trade. john: firstly on the deductions, you have done a lot about getting rid of most deductions. it distorts markets, pushes money towards property. why didn't you choose to target that? mr. mnuchin: the key things we talked about keeping our charitable deductions and the other is the mortgage interest deduction. the big part of the american dream is to own a home. john: it is not necessari

i am erik schatzker. 2017 marking anniversary for the milken institute global conference in beverly hillsmichael milken started the conference with the goal of getting the best minds from around the globe tackling the biggest challenges. this year, policymakers, tech titans come wall street's biggest power players. i had a chance to sit down with hedge fund legend ken griffin, the ceo and founder of citadel. we talked about the shakeout in the industry. mr. griffin: it is a shakeout for active management. we see the rise of passive money in etf's, index products. we are seeing money come out of active management to passive structures. as that happens, the money is not pursuing alpha in the same way. that should make markets less efficient, creating a larger pool for those who remain. passive will be bigger, active smaller, and the firm's best able to assemble, analyze, and incorporate information in their investment decisions will earn outsized returns. erik: how large is the opportunity and billions of dollars for citadel? mr. griffin: in terms of how much cap we can manage? erik: yes. m

. >> we are at the milken conference in beverly hills.our.eat guest this that, the austrian trade downter will be sitting with bloomberg on this tpp campaign after the u.s. dropped out. it seems like he is turning the tide to their. >> we will see if he can continue to spread his message in beverly hills. markets in the region, a slow churn higher come the fed come the jobs report friday, the second round of the french elections over the weekend, but the kiwi dollar goting after we unemployment numbers dipping more than 4.9%. noteems like there will be be much resistance. stocks flat. australia snapped at days of gains on tuesday. let's see how futures are pointing, quiet and asia. -- in asia. fusion is futures flat. crude,ed below $48 on gas stockpiles could be rising. japan closed for their golden week holiday, but the yen extending declines for a fifth day with the yen at a six week low. sitting onvestors their hands before those events happen over the next couple of days. some muchtainly deserved rest for the japanese worker. let's ta

julie: coming up, more conversations from the milken institute conference. u.s.e secretary wilbur ross on nafta. when the fomc was front and center an interview with ben , bernanke put in a few good words for his successor, janet yellen. >> she is highly competent has done a good job as a confidence of the markets. julie: this is bloomberg. ♪ >> you added 9 million users last quarter. did it come from donald trump? >> we can't say focus on politics, is really driving the growth. we don't have a way to measure that. twitter benefits when influential people use our platform to tell with happening. we encourage that, we love the discussion, with of the conversation that happening. the more it happens, the better we will be at showing you with happening in the world. we would love it every world leader would use it as a primary mechanism to talk to their constituencies. julie: that was twitter cfo anthony noto with emily chang. many of the world's top investors, executives and financial policymakers spoke with bloomberg television at the milken institute to global co

you just heard it's milken. >> it was milken's genius that created an entire market and fueled this takeoverse characters, but these are fat cats, first cousins to the financial manipulators, the robber barons of the late 19th century. >> they're trying to make a buck by doing nothing and putting people out of work. >> economists agree that some unemployment, some hardship is unavoidable in the vitally important process of making the united states lean and mean again. what the takeover specialists call corporate restructuring. >> corporate america needs some kick now and then to become a little more efficient and less entrenched. that will probably do our economy a lot of good. >> goodyear fended off a hostile takeover bid. victory didn't come cheap. >> goodyear won by buying back half its stock and taking on a huge debt. plants were closed and workers laid off. the company pays $1 million a day in interest to 17 banks worldwide. >> they jump out of the closet, shout gotcha and buy up the company with its own assets, dismember it and erode the industrial base of this country. >> maybe we did

from the annual milken institute global conference in beverly hills.she has to say about bringing capital back to the public equity markets. a feature we would like to bring to your attention is our interactive tv function. you will be able to watch a slight and see previous interviews from our coverage around the globe and dive into any of the functions we feature. this is for bloomberg subscribers only. check it out at tv . this is bloomberg. ♪ caroline: bitcoin traded at a new all-time high. it rose above the $1400 mark for the first time ever. bitcoin has risen in 10 of the last 11 sessions gaining on the news be securities and exchange commission will reconsider the launch of a u.s.-based etf. we have been live all day at the milken institute global conference in beverly hills. erik schatzker caught up with the nasdaq president and c.e.o. and asked about her thoughts on bringing capital back to the public equity markets. take a listen. balanced viewry of the private capital markets and public capital markets. i believe in the private markets s

coming up, we will head back to the milken conference. fu will be interviewing harry stuffy. this is bloomberg. ♪ time for first word news. police in austin, texas have tweeted that one person is in custody in connection with multiple stabbings at the austin campus of the university of texas. police ad there is no additional threat to the campus. local abc-tv affiliate kvue reports that three people are hospitalized with potentially serious injuries. those stabbings happened around 1:36 local time. at this time there's no word on a motive for the attacks. north korea has been president trump's most urgent national security threat and hisign-policy challenge in first 100 days of office. in an oval office interview with bloomberg news, the president did not rule out a face-to-face meeting with north korean leader kim jong-un. under the right circumstances, i would absolutely meet with them. most political people would never say that, but i'm telling you. under the right circumstances, i would meet with him. mark: the last top u.s. official

hour, the wells fargo ceo joins us from the milken conference.s is bloomberg. ♪ oliver: live from new york, i am oliver renick. vonnie: i am vonnie quinn. this is "bloomberg markets." u.s. auto sales are due out tomorrow and they are stalled for the fourth straight month. joining us is jamie butters in detroit. i love your story today. 22 a $50,000 chrysler minivan that you say is potentially responsible. jamie: it represents what is going on in the industry. automakers make a lot more money on a luxury vehicles and larger vehicles like pickups and suvs than mainstream cars. that is where their priorities have gone, and we keep seeing new ways to explore the higher reaches of the vehicle market. now we have a minivan that is actually a luxury vehicle. ,t has got beautiful materials twin touchscreens in the second rose, third-wrote seats -- third wrote seats recline. it seems bizarre to even say it but it is a luxury minivan. vonnie: it does seem like a dream for those with families. tell me why this should be responsible, why consumers are sudden

we are here at the milken conference in beverly hills, california. i will be back, but for now, to you in new york city. oliver: great interview again. erik schatzker at the milken institute global conference "firstcheck on word" news with courtney donohoe. courtney: republican congressional leaders want to focus on health-care and tax overhauls have given into democrats on a spending bill. on $1.3ors have a great trillion measure that would keep the government in operation through september and in projects most of president trump's priorities, including money to start building a law on the border with mexico. president trump's chief economic advisor says he thinks republicans have enough votes in the house for an obamacare replacement bill. he told cbs news that there could be a vote this week and the provisions of the health care bill still are not clear. israeli prime minister benjamin netanyahu has criticized the wednesday plan meeting between president trump and palestinian .eader mahmoud abbas netanyahu spoke at a ceremony honoring victims of t

michael milken is leading a discussion.rik schatzker joins us now with one of the leading investors who will be part of that session. thank you very much. crescentwith mark from capital. good to see you. from micken hearing mulvaney. there's a great deal of interest in tax policy and you are a credit investor. how important is tax policy and the discussion around tax reform to what you do? mark: i think it is not as important for credit investors as it is for equity investors. ultimately, it ripples through. a coherent tax policy, a lowering of tax rates will lead to growth. especially if there is corporate tax reduction, it mathematically brings down the math -- the equity markets. the equity market as value today is cheap and that would ripple through fixed income, particularly in things like credit risk like high-yield. you should sayng that because many people feel even with the prospect of tax return and the other things the trump tax return might do, the market is fully, if not overvalued. atk: folks have not looked v

. >> and the milken conference bringing together who is who of leaders. >> it is something we are consideringt treasury. would be anrica exciting place to invest. >> we did not meet expectations this quarter. >> and ben bernanke questions the timing of the trump tax cuts. >> it would have made more sense to have more spending in 2013 or 2012. >> a big miss for apple headlines the earnings reports. >> facebook with another great quarter. >> must have missed it by 50% and stock went up. >> it is all straight ahead on bloomberg best. ♪ julie: hello and welcome. i'm julie hyman. this is "bloomberg best," your weekly review of the most important interviews and analysis from around the world. on monday, president donald trump shared his thoughts on a number of economic issues with the bloomberg news. his comments made headlines and moved markets. with an interview bloomberg news, the president says he is willing to me with the leader of north korea. he also says he is considering breaking up the big banks. >> we are looking at it. dodd-frank is going to be very seriously changed so the banks can go

tim sloan, the milken institute at 11:30 this morning.rg. ♪ did you know slow internet can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. hey you've gotta see this. cno.n. alright, see you down there. mmm, fine. okay, what do we got? okay, watch this. do the thing we talked about. what do we say? it's going to be great. watch. remember what we were just saying? go irish! see that? yes! i'm gonna just go back to doing what i was doing. find your awesome with the xfinity x1 voice remote. tom: may you have a good may day. do we have snow in new york? markets are closed around much of the world. news, news, news. in washington, republican congressional leaders who want to focus on health-care and tax overhauls have given int

manus: a meeting of minds that milken, from u.s. treasury secretary steve mnuchin to citadel ceo ken griffin. we will bring you a bevy of top interviews from the conference in l.a. anna: a very warm welcome to "bloomberg daybreak: europe," our flagship morning show from london. manus: a very good morning to you. a raft of things to consider. one thing that the bond markets are doing just before steve mnuchin gets ready for a bond bank. they piled in, they added the most long positions, despite -- they have added the most long positions on a week on basis. this is the first time since july hedge funds have been alleged across the curve. the question you have to ask -- there's always a good reason. economic surprises were lower, so they had all the reasons to maybe want to get along, and then bang, the new. let's bring up the risk radar, where we are on ten-year treasury yields. that was the longer-term picture in the shot. talk of the 30 year bonds -- sorry, the 50 year bonds, yields rising on treasuries, increasing borrowing costs,

absolutely, erik schatzker, from the milken institute conference in beverly hills.oombergn markets," and exclusive interview with sit it out founder and ceo, ken griffin. with the founder and ceo of sit it out. this is bloomberg. ♪ . . grexit it is 2 p.m. in new york. david: welcome to bloomberg markets. julia: we are live at bloomberg world headquarters in new york. everlyg stories out of hills, washington and london. here are the top stories we are covering on bloomberg and around the world. president trump's with bloomberg, telling us he is actively considering breaking up wall street's biggest banks. then a rare and exclusive the milk, live from and political conference. asking where he would be put his money right now. in the fed's plan for rate hikes coming into question after consumer spending and gdp data.

we're at the milken institute conference. real estate mogul and adviser to the president. >> thanks for having us. >> about an hour or two ago there were some headlines president trump thinks we should raise the federal gas tax to pay for infrastructure. should we? >> president trump has shown a lot of political courage, the third rail of one of the third rails of politics. 30 states have already bitten the bullet and raised the gas tax. the reason is to invest money in roads and the infrastructure of the united states. >> that's a hard sell politically, richard. you know that. >> it's a hard sell but we all have a crumbling infrastructure, the money has to be spent, and the user should have some responsibility for paying for it. >> is it something that would be considered? >> i bhev it's going to be considered but it's a political hot poe tato for sure. >> will we get any kind of real infrastructure plan in the next year or two? >> absolutely. >> how big and what will it focus on? >> the president has made this his top prior

we want to take you back to the milken institute global conference.schatzker is there, and he is joined by hedge fund industry by acider -- he is joined hedge fund industry in the -- insider. erik: that would be not other than josh friedman from the canyon partners. you are a credit guy. credit markets are running pretty hot now. how comfortable are you putting money to work? josh: we have been avoiding things that look like the high yields index or things that are in the high yields index for a long time. probably too long of a time, but we have been. i think we are at the end of a cycle where rates have gone down and down, and there is an increasingly desperate desire for yields. something on the order of $10 trillion of zero yields, negative yield securities, and another two times that. it has driven the high-yield markets to levels that are really high. the problem is the asymmetry of owning something when yields are that low and has duration. it is bad. erik: in other words, very little margin for error. you can get everything right on the credit

i led a panel this morning, the global capital for milken from gpif, $1.4 trillion. at $200 billion i think i'm hot stuff. i'm like dirt on the floor. no, you're right. saudi arabia was here sunday -- >> you get my point. capital seems to be going everywhere. >> absolutely mreplentiful. >> that makes me nervous. should investors, should your pensioners be nervous at the all? >> no. their pension is secure because it's a guaranteed defined benefit. if i was in a defined contribution plan i would be cautious. what i would do is rebalance my asset allocation. >> to what? >> to a 70.30, 80.20. if you're in a 401(k) you've only got the equity to invest in or bonds. i can go into private equity, into real estate -- >> for our viewers that can't do that you would think even right now 70% is a good blend? >> depending on your age, i think so. but be global. don't just be in the usa. the u.s. economy, like we saw last week, is not the strongest growing in the g-7. you want to be globally diversified. >> do you think that europe is a better bargain than the united states right

coming up, we had back to the milken institute global conference.schatzker will be talking to david rubenstein. this is bloomberg. ♪ vonnie: this is "bloomberg markets." let's head back to erik schatzker at the milken institute global conference in beverly hills. erik: thank you. i'm here with david rubenstein, cofounder and co-ceo of the carlyle group, one of the world's largest revenue equity investors. it is not just corporate private equity. you are a multi-asset manager. we might as well begin with corporate private equity. that is what you are known best for. the question i keep asking is a simple one, are you a buyer or seller? david: we do both. obviously. it has been a very good time for the last five or six years to sell things. more assets have been sold in the last six years by private equity firms that have been bought. i think prices will come down through the latter part of this year. i think you will see a fair amount of acquisitions being done. erik: why would prices come down? the economy seems to be beginning to accelerate. the da

we are at the milken institute's global conference. to you in london, until i am back here. bloomberg's erik schatzker there. big lineup of guests continues. joined by tom barrack this afternoon and kyle bass. just five days to go before the french presidential elections, part deux, as they say. candidates are stepping up their attacks as polls show emmanuel macron in the lead. this is bloomberg. ♪ ♪ mark: let's take a look at where your. markets -- where european markets are trading as we enter the end of the tuesday trading session. by better than expected earnings by bp. let's check the currency board paid the big fiscal event takes place sunday. france's second round of a french presidential election. the euro down against sterling. the year off against the dollar were -- the dollar marginally. strong pmi manufacturing data out of the u.k. and the eurozone. yields gaining in germany and italy. the close is next. ♪ ♪ live from london and new york, this is the european stocks finishing the tuesday session hires says august 2015. the more defensive industry groups rising to

up next we will be talking to nouriel roubini from the milken institute global conference.nomy. this is bloomberg. ♪ joe: it is day three of our coverage from the annual milken institute global conference in beverly hills. we are joined by the economist who called the 2008 financial crisis. , thank you very much for joining us. tell us about the mood there in beverly hills. how do people feel about the state of the economy right now? optimistic. mood is but these are mostly people from the financial world. the markets have gone higher and higher. in my view, the markets are overestimating what france will be able to do and the impact on economy and growth. they're estimating a number of downsides. they are micromanaging the corporate sector. inflationad to higher , faster and sooner, a stronger dollar, and enjoy a the jobs of the blue collars. markets are way overestimating politics and the negatives. there is too much euphoria that is not justified i the data -- by the data. scarlet: that is applicable when you are looking at equities, since they are up near record highs.

i am erik schatzker. 2017 marking anniversary for the milken institute global conference in beverly hillsn started the conference with the goal of getting the best minds from around the globe tackling the biggest challenges. this year, policymakers, tech titans come wall street's biggest power players.

michael milken started the conference with the goal of gathering the best minds from around the globebiggest challenges. this year, some 4000 people attended from policymakers, tech street's biggest

julie: coming up, more conversations from the milken institute conference. u.s.cretary wilbur ross on nafta. when it excellence he was front and center, an interview with ben bernanke put in a few good words for his successor, janet yellen. >> she is highly competent has done a good job as a confidence of the markets. julie: this is bloomberg. ♪ the show's about to start! how do i look? like a bald penguin. [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ] xfinity x1 gives you exclusive access to the best of the billboard music awards just by using your voice. the billboard music awards. sunday, may 21st eight seven central only on abc. ♪ you added 9 million users last quarter. did it come from donald trump? >> we can't save focus on politics it is really event driving the group. we don't have a way to measure that. twitter benefits when influential people use our platform to tell with happening. we encourage that, we love the discussion

julie: coming up, more conversations from the milken institute conference.des david selman goldman's underwhelming quarter, and u.s. commerce secretary wilbur ross on nafta. plus, an interview with ben bernanke, who put in a few good words for his successor, janet yellen. >> she is highly competent, has done a good job with a confidence of the markets. julie: this is bloomberg. ♪ ♪ >> these are our top stories. macron has won a victory over far right nationalist marine le pen. [speaking french] the long democratic confirmation process, you have put your trust in me, and i would like to express my profound gratitude. it is a great honor, because nothing was set in stone, and i would like to say thank you. thank you from the bottom of my heart. let's look at the market reaction. syria do -- the euro has been positive against the u.s. dollar, and it has come back from some of the earlier highs, trading now just above the one in 10 mark. about .20%.eakening will also have european stock markets coming online in about 9.5 hours. we will be watching those openings

he spoke with bloomberg at the milken global conference in beverly hills. >> she said today she willoman and negotiating with the european union, and i must say i fear for this. at the moment, they seem to be lining up in front of each other , playing a game of chicken. they are prepared to drive headlong at each other, daring the other to blink or to turn away before they reach a head on collision. this is not a sensible way to negotiation, which is as complex and is important both for the european side and for britain, and i hope they can reset before they certificate underway and risky doing huge damage to the european economy, but i'm afraid if there is a crash, britain will come off for us. there is aome say sense of complacency that will end in humiliation. jean-claude juncker has said britain cannot expect to get out of this better than it was before as a member of the eu. how do you read that? >> he is right. if you have an organization like the european union which bestows huge trade and other privileges on its members, if you can't unilaterally terror up your membership car

so much about milken is the future of.nsion plans for example, are more going to go where you are in terms of bringing money in-house? >> we're seeing, well there's two parts to this. there's an in-house component, and there's a broader portfolio thought process that's going on. we're seeing pension plans and large sovereign wealth funds, the very biggest, most sophisticated globally, coming out of asia or europe or canada, for that matter. they're ending up bringing more in-house, but that doesn't mean that it all comes in-house. partnerships with private equity firms, infrastructure firms, real estate firms are critical. when you run a global platform as we do, you have to recognize that there is, you need sector expertise and you need geographical expertise. you're never going to build all of that internally, so you have to partner with people around the world. >> right, and you do and we're accustomed to seeing your name crop up in what are large deals where you join a private equity firm to buy a company, or in some c

he spoke at the milken institute global conference.d, you'd reduce competition. and competition is the life blood of what makes free economy work. when you have many firms vigorously competing to get ahead, that is when creativity happens, when innovation takes place, when consumers win. taylor: trump also told bloomberg he is considering whether to break up the banks. that is the bloomberg is newsflash. francine: thank you. we have been to the treasury secretary steve mnuchin at milken. he told bloomberg it would make sense to sell ultralong bonds. >> we are studying ultralong bonds. that is something we are considering at treasury. we have a working group looking at it. we think it is something that could absolutely makes sense. let's get back to geoffrey yu, ubs asset management head of u.k. investment office. is is the right message for investors now? geoffrey: we just have to be careful about ultralong bonds. you want to issue them because you are confident you can finance them at an attractive you think interest rates are low and

. >> i saw herb a life's stand at the milken conference. i ate a protein bar.ody ist is milken. 21 points down. seven minutes to go before the closing bell ring. our countdown closer has ideas on the high net worth companies that maybe you should be looking at. ♪ what we do every night is like something out of a strange dream. except that the next morning it all makes sense. to power global e-commerce fedex networks are massive, far-reaching and, yes... a little magical. fedex.com slash dream dearthere's no other way to say this. it's over. i've found a permanent escape from monotony. together, we are perfectly balanced, our senses awake, our hearts racing as one. i know this is sudden, but they say: if you love something... set it free. see you around, giulia ♪ ♪ liz: investors returning retail stocks to the counter right now retailers kohl's and macy's returning so so results. nordstrom coming up after the bell. ashley webster, that stock is down 7% ahead of that. ashley: it is dragged down among misery of all other retail stores, liz, but maybe nordstrom is

treasury secretary steven mnuchin live from the milken global conference.milken david conference in beverly hills, california where eric tasker has a special guest. erik: i want to welcome bob diamond. most people know you as the former ceo of barclays. i will begin by talking about barclays because sadly once again, it's topical. the current ceo has landed himself in some hot water with british regulators. he try to uncover the identity of a whistleblower. the attitude on this side of the atlantic seems to be a matter of big deal, so he ran a witchhunt that the reality is, in the u.k., it is a big deal. can you help people understand why? jeff has beenhink a very solid chief executive at barclays. i think he has brought to light that there is a very strong platform in retail and commercial banking. --hink he has made it clear barclaysed here, capital is the top european competitor to the u.s. and he will have to work through this it he has done a trip -- a terrific job of leadership and i think he's the right person for barclays now. erik: the regulatory e

i am erik schatzker. 2017 marking anniversary for the milken institute global conference in beverly hillsrence with the goal of getting the best minds from around the globe tackling the biggest challenges. this year, policymakers, tech titans come wall street's biggest power players. i had a chance to sit down with hedge fund legend ken griffin, the ceo and founder of citadel. we talked about the shakeout in the industry.

i'm david faber at the milken conference. our guest right now, greg maffei. corporation. i haven't seen you since november. thank you. >> thank you for having me, david. >> i'm sorry you're not get on the line. that's to listen to the treasury secretary. >> i'm trying to get a friend to save me a seat. >> we'll take care of you, don't worry. you may have as much going on as he does, or even more. all right, i want to start off with a question that people have about charter and what liberty's view is of that position. these are the particular comments that mcadam made a couple of weeks ago. it seemed to indicate a desire on the part of horizon perhaps at least to explore something or having explored something. is there a chance that verizon would buy charter and/or that liberty would be interested in having a discussion about that? >> well, i can't speculate on that, but i mean, lowell has made comments about willingness and desire and i think he calls it industrial logic including charter. we at liberty remain the largest shareholder, very bullish on charter.

the milken conference.y, this is a great conference if you want the confluence of wall street and washington and how it affects the markets. liz: sure. >> that is all they have been talking about today. let me say this. steve mnuchin, the treasury secretary spoke today about the need for tax reform and need to keep zeroing out certain deductions that will help pay for it. let's hear what he had to say. >> for most americans they will be able to fill out their taxes on a large postcard and will use the standard deductions. the special deductions, and all these things are really for rich people and we're going to cut a lot of that back. as it relates to the states. we don't think that the federal government should be in the business of subsidizing the states. the states should be able to decide what they want to charge in income taxes. >> obviously he is talking about the state and local tax he deduction that is near and dear to the hearts of every taxpayer, mostly every tax payer in places like new york, new

. >> thank you for watching "bloomberg best from the milken institute global conference". this is bloomberg. >> fritz sides, as the euro's second-biggest economy leaves behind.blishment macron versus le pen in the final round. first estimates in just under one hour. 5:00.t suggests 65% as of posters have been higher. bell boxes are still open. .nvestors prepare to react we'll bring you the first trade on the euro, investors and asia price

he reportedly made the comment at the milken conference where he allegedly said this thing was it didn'tave that entertainment. >> you probably heard about this, the fire festival in the bahamas, it was a huge bust. now it's facing a $100 million lawsuit. the suit accuses the organizers including rapper ja rule of putting together nothing more than a get-rich-quick scam. intended to fleece attendees for hundreds of millions of dollars. attendees paid up to $12,000 to go to the festival which was canceled at the last minute over poor infrastructure. the organizers have not responded to the suit. >> get ready for hunger pains. mcdonald's unveiling what it's called a uselessly useful utensil, a frork. they say it was developed for scooping up toppings, a limited supply will be available, at participating restaurants with the purchase of one of the new sandwiches. i like the idea of a frork, to some up all the good stuff that falls out. >> they should have done that a long time ago. instead of having it on the entire burger, bite by bite. >> now you have a solution. >>> thanks for being with

charlie gasparino over at the milken conference in california. the way, there was another bit of drama today. it was in washington this time. united's ceo facing tough questions over tough treatment of passengers. what about that overbooking policy where airlines typically book more tickets than there are seats available? even after a guy gets dragged off and embarasses the airline with how it was handled, apparently the signal from united airlines we're going to stick with that policy, after this. . . ♪ neil: we do know later this hour, in fact the next half hour the president is expected to talk on the phone with vladmir putin of russia. we don't know what he will be doing with the air force academy in the oval office or whether he will usher them you out. we doç know the call is coming. at same time think about it, the president showing willingness to talk to the north krien leader as well -- north korean leader as well as have rodrigo due -- due tar day have in this rogues list of leaders changes how you deal with rogues. cia analyst claire

charlie says he has more details live from the milken conference in beverly hills with details.ppening, charlie? >> bankers for jeb and jeter, led by greg fleming the former number two at morgan stanley. he is leading banking effort to raise money, as much as a billion dollars so the team of jeb bush and derek jeter can buy the miami marlins. what they are telling people they are increasingly optimistic they would get the money. as we've been reporting in the past, frequently on foxbusiness.com, they thought it was an uphill battle that they would need a lot of investors. from what we understand they're going foreign potential investors, for silent partners, foreign silent part in to drum up the money necessary. they know here in the u.s., if you put in $100 million for this, remember the deal, the bid is 1.34 billion. jeb and jeter by themselves have about 200 million. they have to raise a lot of cash and a lot of checks. if you get in americans to put in money, 100 million, they want a say in the team, a management role. essentially jeb and jeter do not want to give up, relinq

. >> and the milken conference

vonnie: that was barry sternlicht, ceo of starwood capital group speaking with erik schatzker at the milkenrence. mark: coming up, we will look for the best em opportunities from the middle east to latin america, including the impact of -- trump residency on mexico presidency and mexico. plus, an interview with u.s. commerce secretary wilbur ross from the bloomberg draco a summit. -- bloomberg breakaway summit. this is bloomberg. ♪ you vonnie: live from new york, i am vonnie quinn. mark: in london, i am mark barton. this is bloomberg markets. tentative bloomberg business flash -- time for the bloomberg business flash. u.s.ited data plans in the has lost more subscribers in the last quarter. 118,000. the country's fourth biggest wireless provider did manage to post sales big estimates. are announcing that a sprint merger would be a better way to take on at&t and verizon. it just raises prices. the parents of seeing in an hbo posted first-quarter earnings that beat estimates. time warner was helped by the pay-tv providers like comcast. companies waited to be taken over by at&t in an $85 billi

i was at the milken conference earlier, two weeks ago.h. >> they had five or six trump administration officials there. treasury secretary steve mnuchin was there. there is not one, at least, unless donald trump does a surprise visit to this, there is not one single trump administration official here. liz: mnuchin came here. >> anthony scaramucci obvious connections to both this conference. remember he is spinning this off as he moves on to the next phase of his life. his connections with trump, it is still not one trump administration official is here. so, that is kind of odd. the mood is dour. it is not just because of that. listen, hedge funds are not doing well. there is a lack of profitability, a lack of performance. that is reflected both in turnout, from what i understand turnout is down. i think some of the guest list. so it will be interesting. liz: do they know we're coming, you and me? >> yes. but here's the thing -- liz: maria is coming too by the way. we're covering all base. >> there you go. what is good about the conference

interviews with steve mnuchin and the nasdaq ceo from the milken institute in california. ♪ a lot ofoming out of the conversation between the president and the united states and my colleagues at the white house, which concluded just moments ago. one of the big ones here, president trump

that was a huge issue at milken overall.of work. >> yes. >> and whether or not people will be doing a lot of it. hopefully they'll still have some ability to sustain themselves and buy things on amazon. >> yeah. jim, i want to take your temperature on apple as we look at the opening trade then i want to ask you whether or not you are starting to draw a line between the twilios, the akamais and the amds of yesterday. should we be set up for more disappointments in software or tech? >> well, i think that twilio and twilio is really a good example of an -- and akamai is too. you hear of to do it yourself. the companies that have relied on service companies that are cutting them out. you know what, we'll take control of our destiny. akamai was media companies doing it yourself. hard to see when you see diy in a conference call but there it is. uber is going to do it itself, they have figured it out. that's a trend here that says it's gotten too expensive to use the other guys. we're going to control it. apple is really a case of

at the milken we spoke to mr.t the best way to go into a negotiation relationship. simon: we are in an election campaign. jean claude juncker makes an demand. all the paint him as things the brexit vote did not like so it plays into theresa may's hands that jean claude juncker appears, or his office appears to have leaked details from the dinner last week. she can use that to say she will be a tough negotiator, a bloody difficult argument. to some us spent the british can say, -- extent, the british can say, we are not leaking the documents. they can take the higher road and say we were not turning the talks toxic. francine: what do markets take of this? do they look at every twist and turn and toxic element or ignore? simon: yesterday the pound was pretty steady after the weekend newspaper reports. they see it going up again to the dollar. ing sees sterling's decline into the euro leveling out sometime this summer. sterling is not bullet proof and investors will be watching those negotiations. tom: i still rememb

. ♪ emily: to our continuing coverage from the annual milken institute coverage in beverly hills, california caught up with box ceo aaron levie on his thoughts about the trump administration and the rise of automation. take a listen. >> we have a lot of cause for concern and to be talking about this subject of technology-based automation and what happens to employment as we have new innovations like ai, robotics, and other advancements. we do have to be concerned about it because we have to think about what does the future look like in 10, 20, 50 years from now, no matter what the industry. in general, i personally, and a lot of technology companies, are optimistic that we will create more jobs in new industries that we cannot even perceive. the challenge is figuring out how do you transition in as smooth the way as possible to those jobs? we know the jobs that go away or that are reduced, we don't always know what the future jobs are like. we don't know what to prepare people for in the future. in general, it is a healthy conversation to be having. i think we need to ease away from being on

we sat down at this year's mi milken conference.ive investor providing capital to some of what are the best known unicorns including air bnb. >> air bnb is probably the most exceptional company in our portfolio. it's a company that continues to double in terms of both room nights and revenue. it's up to 3 million listings and it operates in over 180 countries around the world, which is pretty remarkable. it's really transforming and disrupting the whole hospitality space. this is what we expect great things from. it's on a path for multiple years of growth and value creation. >> it's always interesting when you look at management of some of these companies. brian comes up with the idea when he's not in his dorm but something along those lines and yet he seems to be a very effective ceo. how do you determine when that's the case? >> i think brian is mature beyond his years. one thing that's quite remarkable about him is his willingness to higher exceptional talent around him. his cfo you have known for years. >> blackstone ceo. worke